Rogers Sugar Announces a $50 Million Convertible Debenture Offering

Executive Summary

• Rogers Sugar Inc. announced a $50 million public offering of Ninth Series convertible unsecured subordinated debentures, priced at $1,000 each with a 5.50% annual coupon.
• An over‑allotment option could increase gross proceeds to $57.5 million if exercised in full.
• Net proceeds will be used to reduce borrowings under Lantic Inc.’s credit facility and for general corporate purposes; the offering is expected to close around January 12, 2026.

Key Details

• Offering Size: $50,000,000 aggregate principal amount of debentures.
• Price per Debenture: $1,000 (offering price).
• Interest Rate: 5.50% per annum, payable semi‑annually on the last day of January and July beginning July 31, 2026.
• Maturity Date: January 31, 2033.
• Conversion Price: $7.91 per share; convertible at holder’s option any time prior to 5:00 p.m. Montreal time on the earlier of the business day before maturity or redemption date.
• Redemption Terms:
• Not redeemable before January 31, 2029.
• Redeemable Jan 31, 2029 – Jan 31, 2031 at principal + accrued interest if TSX weighted‑average price ≥125% of conversion price for the prior 20 trading days.
• Redeemable Jan 31, 2031 – maturity at principal + accrued interest at company’s option.
• Underwriters: BMO Capital Markets and National Bank Capital Markets (bought‑deal basis).
• Over‑Allotment Option: Up to an additional $7.5 million (15% of the offering) exercisable within 30 days after closing; total gross proceeds could reach $57.5 million.
• Use of Proceeds: Reduce amounts outstanding under Lantic Inc.’s credit facility and for general corporate purposes.
• Expected Closing: On or about January 12, 2026, subject to regulatory and TSX approvals.
• Prospectus Documentation: Offered pursuant to a prospectus supplement to the final short‑form base shelf prospectus dated December 5, 2025; supplement to be filed by Jan 7, 2026 and accessible on SEDAR+ within two business days.

Notable Quotes

(No executive quotes were included in the release.)